Core Viewpoint - The article highlights the trends in China's gold production and consumption for the first half of 2025, indicating a decline in both production and consumption, while also noting a significant increase in gold ETF holdings and trading volumes due to high gold prices and geopolitical tensions [1][3][4]. Group 1: Gold Production - In the first half of 2025, China's gold production was 179.083 tons, a decrease of 0.31% year-on-year [1][3]. - Domestic gold mining contributed 139.413 tons, while by-products from non-ferrous metals accounted for 39.670 tons [3]. - The total gold production, including imported raw materials, reached 252.761 tons, reflecting a slight increase of 0.44% compared to the previous year [3]. Group 2: Gold Consumption - Gold consumption in China for the first half of 2025 was 505.205 tons, down 3.54% year-on-year [1][3]. - The consumption of gold jewelry fell significantly by 26.00% to 199.826 tons, while demand for gold bars and coins rose by 23.69% to 264.242 tons [3][4]. - Industrial and other uses of gold saw a modest increase of 2.59%, totaling 41.137 tons [3]. Group 3: Market Dynamics - High gold prices have suppressed jewelry consumption, but high-value, well-designed jewelry remains popular, benefiting retailers [4]. - The demand for gold bars continues to be strong, although profit margins are lower [4]. - Geopolitical tensions and economic uncertainty have heightened the appeal of gold as a safe-haven asset, leading to a substantial increase in investment demand for gold bars and coins [4]. Group 4: Trading Activity - The Shanghai Gold Exchange reported a total trading volume of 16,786.870 tons in the first half of 2025, a year-on-year increase of 12.70% [4]. - The trading value reached 12.1180 trillion yuan, up 56.46% compared to the previous year [4]. - The Shanghai Futures Exchange recorded a trading volume of 75,477.958 tons, marking an 88.39% increase year-on-year, with a trading value of 44.4429 trillion yuan, up 149.17% [5]. Group 5: ETF Holdings - Domestic gold ETF holdings increased by 84.771 tons in the first half of 2025, a remarkable growth of 173.73% compared to the same period in 2024 [5]. - As of June 30, 2025, the total gold ETF holdings in China reached 199.505 tons [5]. Group 6: Gold Prices - By the end of June 2025, the London spot gold price was $3,287.45 per ounce, reflecting a year-to-date increase of 24.31% [5]. - The average gold price for the first half of 2025 was $3,066.59 per ounce, up 39.21% year-on-year [5]. - In China, the closing price for Au9999 gold was 764.43 yuan per gram, a 24.50% increase since the beginning of the year [5].
上半年黄金数据，最新发布！
新华网财经·2025-07-24 06:28